10. Jordan and Mike are both planning on attending university in Calgary. Jordan's parents rent him a one bedroom apartment for $750 per month. Mike's parents bought a 3 bedroom house for $285000 and made a down payment of 10%. The remaining amount was mortgaged over 20 years at an annual rate of 4.15% compounded semi-annually for a 5 year term. They rented the other two rooms out for $600 each per month. The house depreciated in value by 1.5% a year and the cost of taxes and maintenance averaged $3000 a year. a. How much did Jordan's parents pay in rent over the years? 1 mark b. What were the monthly mortgage payments on Mike's parents house? (use your financial application and fill in the appropriate inputs) 1% = PV = N = PMT = FV = P/Y = C/Y - 1 mark c. How much was left to pay on the mortgage after 5 years? (use your financial application and fill in the appropriate inputs) N 1% = _ PMT= PV = FV = P/Y - CHY = c. 1 mark d. How much had the house lose in value (money] over the 5 years? 2 marks e. Assuming the house was sold at market value after 5 years, how much would Mike's parents receive from the sale? 1 mark f. How much did Mike's parents have to subsidize the rent for the 5 year term